Semis Leverage Machine Starting To Wobble?

Mini Wobble

The AI melt-up is showing the first signs of stress today. Semis are rolling over aggressively, SOXL is seeing massive downside candles, and several key technical patterns are suddenly starting to flash exhaustion signals after one of the most vertical squeezes in years.

None of this builds a macro bear case overnight. But when positioning, leverage, and complacency all reach extremes simultaneously, markets can suddenly become far more fragile than they appear on the surface.